Both McCain and Obama say that energy independence and global warming demand a shift from fossil fuels to alternative sources of energy. But the credit crisis is drying up investment and the price of oil is declining. Also, a G-20 summit on the global financial system, and India shoots for the moon.

FROM THIS EPISODE

Both John McCain and Barack Obama say that energy independence and global warming demand a shift from fossil fuels to alternative sources of energy. But the credit crisis is drying up investment and the price of oil is declining. We look at what that could mean for America’s energy future. Also, President Bush invites leaders of the Group of 20 to a summit on the global financial system, and India’s first expedition in space.

President Bush has set the date for his summit meeting on the global financial crisis. The so-called G-20 includes the seven industrialized countries plus China, India and Brazil. James Politi is US economics and trade correspondent for the Financial Times.

Guests:James Politi, US Economics and Trade Correspondent, Financial Times

Both John McCain and Barack Obama say America needs renewable energy—wind, solar, nuclear and "clean coal" as opposed to oil and natural gas. When the price of oil was rising, those alternative technologies were attracting needed investment. But oil now costs half what it did just a few weeks ago. Added to that, the credit crisis is drying up capital and green-energy projects that looked promising are being put on hold. What about energy independence and global warming? Does government have the resources to take up the slack? Are renewables really the answer to the world's energy problems?

India today launched a spacecraft to orbit the Moon, joining a race with Japan and China. The robotic space craft is designed not just to map the Moon's surface but to find out what lies beneath it. What could that mean for the United States? Sumit Ganguly, Director of the Indian Studies Program at Indiana University, is an adjunct fellow of the Pacific Council on International Policy, in Los Angeles, California.